Ripple's successful collaboration with the Diva Campaign in Kenya utilized the RLUSD stablecoin for drought insurance, impacting 517 pastoralists, with a focus on gender inclusion.
Satellite data was used to monitor vegetation health during the pilot, preventing the need for payouts due to favorable conditions, offering risk protection for pastoralists.
The Ripple pilot in Kenya showcased the potential of blockchain technology in providing financial resilience during natural disasters, protecting pastoralists ahead of the drought season.
The initiative demonstrated the effectiveness of digital assets and satellite technology in offering sustainable drought insurance solutions for high-risk communities in Kenya, with potential for broader adoption in other climate vulnerable regions.